Source: HECTOR RETAMAL / Getty
Black Friday is around the corner! It is the perfect time to recognize, encourage and celebrate the Black-owned businesses in our community that span across the nation. Check out a list of Black-owned accessory and clothing brands to support this upcoming Black Friday inside.
MORE: The Mindset Of An Entrepreneur: How This Mom Of Four Balances A Business, A Career And Motherhood
Black business owners make up about 10 percent of United States businesses and about 30 percent of all minority-owned businesses. According to the U.S. Census Bureau, that comes up to approximately two million companies owned by African Americans. In that number, nearly 40 percent of Black-owned businesses are in health care and social assistance, repair and maintenance, and personal and laundry service industries. Other industries include advertising firms, auto dealerships, consulting services, restaurants, barbershops and beauty salons, and of course, clothing companies.
The city that houses the most Black-owned businesses in the U.S. is New York, and Atlanta follows closely behind it. The highest ratio of Black-owned businesses is in Washington, DC where 28 percent of all businesses are Black-owned. In recent years, the growth of Black-owned franchise businesses, like Atlanta’s premiere vegan fast food restaurant Slutty Vegan, has become explosive. Over 30 percent of franchise businesses were Black-owned in 2012, which is up about 20 percent in only five years.
There are many ways to observe Black Friday and to consume with the good of our communities in mind. The most important way is to support and encourage Black-owned businesses in your community. Depending upon where you live, it may be difficult, but challenge yourself to only spend with local Black-owned businesses in your neighborhood. If you’re shopping online for something specific, maybe ditch Amazon this Black Friday and find a Black-owned business that sells the product you are searching for and shop within the community.
MORE: The Mindset Of An Entrepreneur: How This Black Woman Found Success In The Cannabis Industry
Little things like this make a world of difference for a small business and especially, a Black-owned business, which makes up a small percentage of businesses across the nation.
Check out our list of Black-owned businesses to support:
The post Black Business Love: Support These Black-Owned Brands On Black Friday appeared first on NewsOne.
